Chinese manufacturer Mingyang Smart Energy has formed a joint venture with South Korean counterpart Unison to make wind turbines for the Korean market.
The joint venture pact builds upon a previous strategic partnership between the companies.
The pair had previously announced a KRW 400 billion ($298 million) investment plan for Korean manufacturing facilities and wind farms.
This was to include a wind turbine nacelle assembly plant and blade manufacturing plant in Korea, which is planning a large buildout of offshore wind in the coming years.
Industry observers expect Chinese turbine makers’ overseas installations to accelerate in the next ten years as they fill the vacuum left in emerging markets by rivals prioritising profitability over global expansion.
The announcement of Mingyang’s new joint venture in South Korea follows the Chinese manufacturer signing a factory agreement tied to a gigawatt-scale offshore wind farm off the coast of Italy last month.
Unison also offers onshore turbines – designed by German company Aerodyn – with power ratings up to 4.3MW.
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